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Helpful distortion

It appears that among the reasons given by the FSA to abandon

polarisation is that it is a major market distortion. This does not

constitute a reason for change.

In a free market, the powerful and well informed exploit the weakness

and ignorance of those with whom they deal. Before 1986, financial

consumers, who largely exhibit the latter qualities, had no

protection against providers and intermediaries. The whole point in

financial regulation was to tilt the market in their favour.

I suggest that financial regulation is without point unless it

produces a major market distortion.

CB Russell Proprietor,Russell Harman & Co,Chalfont St Giles,Bucks

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